TopLine Business Acumen Series Digest: March 9th, 2021 edition
This week’s most engaging stories
TopLine’s Business Acumen Series features business trends and opportunities to help sales professionals prospect and engage clients. It’s updated several times daily within the TopLine sales intelligence system. This digest features some of the week’s top stories.
This digest includes TopLine-exclusive components, like Instant Positioning pieces. These infographics on category trends and market conditions, available 24/7 in the TopLine app, help with prospecting and positioning you as a thought leader to clients. If you’d like to learn more about how TopLine can advance every stage of your sales process, click here to learn more now.
Radio Contests in the Age of COVID-19
According to a recent study by NuVoodoo Media, since COVID-19 there has been a 10% uptick in radio contest participants! Participants were more likely to tune into a station if they had the opportunity to win $25K if their birthday matched the date randomly picked. Or, to participate in a $1K text-to-win contest or to hear a storm warning (43%). According to survey respondents, cash is king, with $500 Visa gift cards driving more prize appeal than spa days or Zoom calls with famous musicians.
What station contests, giveaways, and on-air sponsorships do you have planned this year?
Latest Resources from TopLine
TopLine is constantly updated with assets on emerging trends and opportunities. At any time, you can submit a request for new custom research, or download Instant Positioning pieces on current topics for use in direct outreach and on your socials. Some recent pieces follow; TopLine users can access them at any time. Not a TopLine user? Click here to learn how TopLine can help you close more sales.
Spring 2021 is the New Christmas for Marketers
Spring is going to act as the new Christmas for marketers as they prepare to increase their media spend while anticipating strong sales growth amid warmer weather and consumers rushing to resume their everyday lives. Industries ranging from retailers to airlines to hospitality are looking at spring as a time to reconnect with customers who are eager to get out of the home as COVID-19 vaccines are more widely distributed throughout the country.
Marriott International VP Brian Povinelli says that consumer sentiment is switching from “hesitation to hope”. Additionally, the National Retail Federation is forecasting the highest growth in retail spending in 17 years, with annual growth expected to reach 6.5%-8.2%. A recent Ad-Age Harris Poll also found that households making $100,000+ plan on spending more this spring compared to last. In-store shopping is also expected to rebound, with nearly 62% of consumers saying they plan to shop in stores this spring at least once a week.
How can you help local and regional businesses capitalize on the opportunities that lie ahead this spring and beyond in 2021?
Auto Loan Payments are Higher Than Ever Before
According to cnbc.com, Experian said the average monthly car payment for a new vehicle is near $600, and pre-owned auto loan payments are averaging more than $400. Both are record highs, and experts believe it’s going to stay that way. Vehicle prices are climbing because of low inventories and high demand. However, experts say the bright side is that fewer consumers have fallen behind or defaulted on their loans than average.
With high demand and low inventory, how can you help auto dealers focus their marketing message on higher inventory vehicles? How can you help increase sales for local auto dealers or auto financers?
Closing the STEM Gap
The STEM field suffers from a lack of women’s representation. From PCMag, “Only 21% of undergraduate engineering degrees in 2016 went to women, and the percentage of computer science Bachelor’s degrees awarded to women has dropped from 27% in 1997 to under 19% in 2016.” Additionally, half of the women who do end up in tech fields end up leaving at the age of 35. This problem begins as soon as third grade, where there is a noticeable gap in math confidence between boys and girls. Getting young girls involved in programs and exposing them to STEM-related activities can improve the future of the field.
Do you have programs in your area that specialize in STEM?